Kronox Lab Sciences Limited IPO

Mainboard

Specialty Chemicals

Listed On: Jun 10, 2024 at ₹ 164.95(NSE)

₹ 14960 /110 Shares

Check Allotment

Price Summary

Last Closing

166.50 (22.43%)

52 Week High

200.50

52 Week Low

138.14

Last Update

22-Nov-2024 3:30 PM

Kronox Lab Sciences Limited IPO Details

03 Jun, 2024

Open Date

05 Jun, 2024

Close Date

06 Jun, 2024

Allotment Date

10 Jun, 2024

Listing Date

Issue Price

₹129-136 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Kfin Technologies Limited

List Price

164.95(NSE)

Listing Date

2024-06-10

Market Lot

Retail : 110 Shares (₹14,960/-)
S-HNI : 1,540 Shares (₹2,09,440/-)
B-HNI : 7,370 Shares (₹10,02,320/-)

Lead Manager

Pantomath Capital Advisors Pvt Ltd

Issue Size

Offer for Sale : 9,570,000 shares(aggregating up to ₹130.15 Cr)

Retail Portion

35% (Number of Retail Applications: 30,450 Approx),
(Number of S-HNI Applications : 311 Approx),
(Number of B-HNI Applications : 621 Approx)

Subscription

117.25 times

IPO Docs

DRHP RHP ANCHOR

Kronox Lab Sciences Limited IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	4,785,000	1,435,500 957,000 478,500	3,349,500	6,699,000
Day 1 - 03-06-24 05:00 PM	1.11 x	19.97 15.93 x 28.05 x	13.00 x	11.10 x
Day 2 - 04-06-24 05:00 PM	3.39 x	52.94 45.18 x 68.47 x	24.55 x	24.59 x
Day 3 - 05-06-24 05:00 PM	89.03 x	301.92 322.26 x 261.23 x	54.23 x	117.25 x

Total No. of Applications: 15,28,029 (Approx)

Retail Subscription on the basis of Applications: Retail:50.1x BHNI:60.6x SHNI:240.1x times

Kronox Lab Sciences Limited Valuations

EPS Pre IPO

₹4.48/-

EPS Post IPO

₹5.56/-

P/E Pre IPO

30.37

P/E Post IPO

24.47

RoNW

25.66%

Kronox Lab Sciences Limited Company Financials All values are in ₹ Cr.

	31-Mar-23	31-Mar-22	31-Mar-21
Assets	54.03	56.79	37.65
Revenue	97.50	83.34	63.24
Profit After Tax	16.62	13.63	9.73
Net Worth	44.68	40.35	26.81
Reserves & Surplus	7.58	40.11	26.57

About The Company

Kronox Lab Sciences Limited is a manufacturer of high-purity speciality fine chemicals for diverse end-user industries. The company's High Purity Specialty Fine Chemicals are used in various applications such as manufacturing APIs, pharmaceutical formulations, scientific research, nutraceuticals, biotech applications, agrochemical formulations, personal care products, metal refineries, and animal health products.

The company offers a wide range of over 185 products, including phosphate, sulphate, acetate, chloride, citrate, nitrates, nitrites, carbonate, EDTA derivatives, hydroxide, succinate, gluconate, and others. These products are supplied to customers in India and more than 20 countries worldwide.

The company exports its products to countries such as United States, Argentina, Mexico, Australia, Egypt, Spain, Turkey, United Kingdom, Belgium, United Arab Emirates, China, among others.

The company has three manufacturing facilities in Vadodara, Gujarat, close to the seaports of Mundra, Kandla, Hazira, and Nhava Sheva. The facilities cover 17,454 sq. m. and have an installed capacity of 7,242 TPA as of December 31, 2023. Unit I/II holds FSSC 22000 (Version 5), ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications. Additionally, some products manufactured at Unit I have obtained Kosher, Halal, GMP, and GLP certifications.

As of December 31, 2023, the company is conducting research and development on 122 products.

The company has served over 592 customers in the past three years. By December 31, 2023, 141 customers of the total, placed repeat orders.

As of December 31, 2023, the company employees 212 people at various levels.

Kronox Lab Sciences Limited - Strength and Weakness

Strength

Kronox Lab Sciences Limited offers a diverse product range of over 185 High Purity Speciality Fine Chemicals, consistently selling 156 to 188 products annually, indicating product demand.

The company maintains strong customer retention, with 111 repeat clients representing 16.74% of total customers, demonstrating reliability and customer satisfaction over consecutive fiscal periods.

Extensive R&D focus led by a Chairman with over 30 years of experience, supported by 16 specialised personnel in their RDT Laboratory, underpins innovation and high-quality product development.

Weakness

Kronox Lab Sciences faces risks if their products deviate from prescribed standards like IP, BP, EP, JP, USP, potentially leading to customer rejection and harming their reputation.

The company's growth strategy relies on a new manufacturing facility; failure to execute this could affect their business prospects and financial stability.

With top 20 products generating over 60% of revenue, a demand drop in these could significantly impact Kronox's financial results and cash flow stability.

Kronox Lab Sciences Limited - Promoter(s)

Pre Issue Share Holding: 99.98%

Post Issue Share Holding: 74.21%

Company Promoter(s)

Jogindersingh Jaswal
Ketan Ramani
Pritesh Ramani

Kronox Lab Sciences Limited IPO - Issue Objectives

Carry out the Offer for Sale of up to 95,70,000 Equity Shares by the Promoter Selling Shareholders
Achieve the benefits of listing the Equity Shares on the Stock Exchanges. Further, the Company expects that the proposed listing of the Equity Shares will enhance the visibility and brand image, provide liquidity to its existing Shareholders, and provide a public market for Equity Shares in India.

Kronox Lab Sciences Limited IPO - Anchor Investors

Kronox Lab Sciences raises over Rs 39 crore from anchor investors ahead of IPO.

Negen Undiscovered Value Fund is the biggest institutional investor among them, buying Rs 7.57 crore worth of shares, followed by Chanakya Opportunities Fund I and Minerva Emerging Opportunities Fund, which picked up Rs 7.48 crore worth of equity shares each.

Capri Global Capital, Moneywise Financial Services, and VPK Global Ventures Fund bought Rs 5.5 crore worth of shares each.

Other Details

Company Contact Details

Kronox Lab Sciences Limited

Block No. 353, Village Ekalbara, Padra, Vadodara-391440

Phone: +91 26 6224 4077/88

Email: cs@kronoxlabsciences.com

Website: https://www.kronoxlabsciences.com/

Registrar Contact Details

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Email: klsl.ipo@kfintech.com

Website: https://kosmic.kfintech.com/ipostatus/

Kronox Lab Sciences Limited IPO - FAQs

Ans. Kronox Lab Sciences Limited IPO is a Mainboard IPO. The issue is priced at ₹129-136 per equity share. The minimum order quantity is 110 Shares. The IPO opens on Jun 3, 2024, and closes on Jun 5, 2024. Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Kronox Lab Sciences Limited IPO opens on Jun 3, 2024 and closes on Jun 5, 2024.

Ans. The size of Kronox Lab Sciences Limited IPO is Offer for Sale : 9,570,000 shares(aggregating up to ₹130.15 Cr).

Ans. The IPO price band is set between ₹129-136 per equity share.

Ans. To apply for Kronox Lab Sciences Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Kronox Lab Sciences Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Kronox Lab Sciences Limited IPO is Jun 6, 2024.

Ans. The Kronox Lab Sciences Limited IPO will be listed on Jun 10, 2024.

Ans. Follow the steps to check the allotment status for Kronox Lab Sciences Limited IPO here.